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Seagate: Needham Ups to Strong Buy Despite Operating Expense Blemish

Shares of hard disk drive maker Seagate Technology (STX) continue to trade down this morning despite the company having raised its revenue outlook for the fiscal Q1 ended last month, the disappointment stemming from higher operating expenses. Seagate shares are down $1.98, over 5%, at $35.99, though that is better than an earlier drop of nearly 8%. Citigroup’s Stanley Kovler, who has a Neutral rating on Seagate stock, notes that the $2.
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